COP27 opens with a popular call to make rich countries pay

COP27 opens with a popular call to make rich countries pay

COP27 opens with a popular call to make rich countries pay

The COP27 summit sees delegates from nearly 200 countries gather in Egypt’s Red Sea resort town of Sharm el-Sheikh for talks to tackle the climate crisis.

Sean Gallup | Getty Images News |: Getty Images:

SHARM EL-SHEIKH, Egypt. Top officials kicked off the UN’s flagship climate conference by calling on rich nations to finally fix their broken $100 billion pledge, while: the burning issue of reparations an official agenda was adopted for the first time.

The COP27 summit, which officially opened on Sunday, sees delegates from nearly 200 countries gather in Egypt’s Red Sea resort town of Sharm el-Sheikh for talks to tackle the climate crisis.

Climate finance, as it has done since the first UN climate conference in 1995, will once again play a key role.

COP27 opens with a popular call to make rich countries pay

It tracks a series of extreme weather events around the world. For example, in just the last few months, a third of Pakistan was completely submerged historic floodNigeria recorded the worst floods in a decade, and China suffered for it the strongest and most sustained heat on record.

“I am fully aware of the scale of the challenge that still lies ahead of us,” Alok Sharma, a British lawmaker and last year’s COP26 president, told participants in the UN-brokered talks on Sunday.

“We are not currently on track to reach 1.5. And while I understand that leaders around the world have faced competing priorities this year, we need to be clear. however difficult our present moment may be, inaction is and can only be myopic. delay the climate catastrophe,” said Sharma.

“We have to find the ability to focus on several things at the same time. How many wake-up calls do world leaders really need?”

“We have to find the ability to focus on several things at the same time. How many wake-up calls do world leaders really need?” Sharma said at the opening ceremony of COP27.

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The 1.5 degree Celsius limit is the aspirational temperature threshold rewritten in the 2015 Paris Agreement. It is recognized as an important global target because beyond this level, so-called inflection points become more likely. These are the thresholds at which small changes can lead to dramatic shifts in the Earth’s entire life support system.

“I will do everything in my power to support our Egyptian friends and the UK is here to deliver ambitious results on the agenda, including on mitigation, adaptation and adaptation. loss and damageSharma said while handing over the presidency of the COP to Sameh Shukri from Egypt.

“We know we’ve reached a point where finances make or break the work program ahead of us,” he added. “So while I point to some progress at $100 billion, I hear the criticism and agree that more needs to be done by governments and multilateral development banks.”

Loss and damage on the agenda for the first time

Countries in the Global South will look to Egypt for reassurance that a pledge of $100 billion in climate finance by rich countries in 2009 to help low-income countries mitigate and adapt to the climate emergency will finally be fulfilled.

“The current mobilization of efforts raises many concerns,” Egypt’s Shukri was quoted as saying on Sunday.

“The promise of 100 billion dollars a year has not yet been fulfilled. Also, currently available funding focuses on curbing emissions rather than adaptation efforts; [and] Most of the financing is based on loans,” he continued.

Low-income countries, already burdened with debt, have call repeatedly to move to grant-based financing as opposed to more loans.

“I think you’ll agree with me when I say that we don’t have the luxury of going on like this. We need to change our approach to this existential threat,” Shukri added.

“I think you’ll agree with me when I say that we don’t have the luxury of going on like this. We need to change our approach to this existential threat,” said Egyptian Sameh Shukri.

Sean Gallup | Getty Images News |: Getty Images:

The push to meet this $100 billion financial pledge comes amid broader calls for rich countries to compensate vulnerable countries. as it becomes more difficult for many to live safely on a warming planet.

Climate reparations, sometimes called “loss and damage” payments, are widely expected to dominate the COP27 negotiations. These payments address the devastating effects of the climate crisis, from which countries cannot protect themselves because the risks are either unavoidable or they cannot afford them.

Indeed, for the first time ever, the topic of loss and damage financing was officially on the COP27 agenda. The issue was first raised by climate-vulnerable countries 30 years ago.

“We don’t want to be here asking for funds to respond to our losses and damages,” said a spokesman for the Small Island Alliance, which is made up of 39 small island and low-lying coastal developing countries, mostly in the Caribbean and the Caribbean. South Pacific Ocean.

“We don’t want to be treated as if you are doing us a favor by adding an agenda item or creating a voluntary fund,” they added.

“AOSIS is here to agree at COP27 the establishment of a new Loss and Damage Response Fund that will run until 2024. We are here so that we can return to our homes and not become climate displaced people in your homes. “

The UN sees three important lines of action

Shukri’s comments follow a flurry of encouraging reports from the United Nations and the World Meteorological Organization in recent days.

The United Nations Environment Program said late last month that there are “no reliable way“To cap global warming at 1.5 degrees Celsius. A separate UN report warned the world.nowhere near“It is hitting its targets to curb greenhouse gas emissions, and current plans estimate that global temperatures will rise by 2.5 degrees.

While that WMO: The amount of carbon dioxide, methane and nitrous oxide in the Earth’s atmosphere reached record levels last year. These are the three greenhouse gases responsible for trapping heat in the atmosphere and causing global warming.

UN Climate Change Executive Secretary Simon Steele on Sunday called on climate envoys from around the world to focus on three top priorities for COP27. He also doubled down on the need for high-income countries to financially support countries on the front lines of the climate emergency.

“First, we need to demonstrate the transition of this transformation to implementation,” Steele said. “Every corner of human activity must be aligned with our Paris Agreement, which seeks to limit temperature rise to 1.5 degrees.”

“The second line of action, we need to consolidate progress in these critical work streams: mitigation, adaptation, finance and, most importantly, loss and damage,” Steele said.

“Finally, the third line of action, we must strengthen the implementation of the principles of transparency and accountability throughout the process.”



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